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      <invstOrSec>
        <name>KENG Acquisition, Inc.</name>
        <lei>N/A</lei>
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        <name>KRIV Acquisition, Inc.</name>
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      <invstOrSec>
        <name>Lavie Group, Inc.</name>
        <lei>N/A</lei>
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        <name>MEI Buyer LLC</name>
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        <issuerCat>CORP</issuerCat>
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        <name>ICE USA Infrastructure, Inc.</name>
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        <name>Impact Parent Corporation</name>
        <lei>N/A</lei>
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        <title>SI Solutions, LLC</title>
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        <name>Smith &amp; Howard Advisory LLC</name>
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        <title>Smith &amp; Howard Advisory LLC</title>
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        <name>EVDR Purchaser, Inc.</name>
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        <name>Excel Fitness Holdings, Inc.</name>
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        <title>Exterro, Inc.</title>
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        <name>FirstCall Mechanical Group, LLC</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Revalize, Inc.</name>
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        <name>Archer Acquisition, LLC</name>
        <lei>N/A</lei>
        <title>Archer Acquisition, LLC (ARMstrong)</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Pelican Products, Inc.</name>
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        <name>Olympic Buyer, Inc.</name>
        <lei>549300OY690T300GRG36</lei>
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        <issuerCat>CORP</issuerCat>
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        <name>Motion &amp; Control Enterprises LLC</name>
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        <name>HMN Acquirer Corp.</name>
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        <name>ICE USA Infrastructure, Inc.</name>
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        <name>JKC Parent, Inc.</name>
        <lei>N/A</lei>
        <title>JKC Buyer, Inc. (J. Knipper and Company Inc)</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>JKC Parent, Inc.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Kenco PPC Buyer LLC</name>
        <lei>N/A</lei>
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        <lei>N/A</lei>
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        <lei>N/A</lei>
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        <name>Sugar PPC Buyer LLC</name>
        <lei>N/A</lei>
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        <name>Tidi Legacy Products, Inc.</name>
        <lei>N/A</lei>
        <title>Tidi Legacy Products, Inc.</title>
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          <other otherDesc="USER DEFINED" value="576567"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TouchTunes Music Group, LLC</name>
        <lei>254900M8EWU7MLR0PW90</lei>
        <title>TouchTunes Music Group, LLC (TouchTunes Interactive Network)</title>
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        <name>Transit Buyer, LLC</name>
        <lei>N/A</lei>
        <title>Transit Buyer, LLC (Propark Mobility)</title>
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          <other otherDesc="USER DEFINED" value="651874"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Validity, Inc.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <name>Vensure Employer Services, Inc.</name>
        <lei>549300OI92ZMA6M8UW59</lei>
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        <name>Vertex Service Partners, LLC</name>
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        <name>Vertex Service Partners, LLC</name>
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        <title>Vertex Service Partners, LLC</title>
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        <name>VMG Holdings LLC</name>
        <lei>N/A</lei>
        <title>VMG Holdings LLC (VMG Health)</title>
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          <other otherDesc="USER DEFINED" value="593056"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>VMG Holdings LLC</name>
        <lei>N/A</lei>
        <title>VMG Holdings LLC (VMG Health)</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <name>WSB Engineering Holdings Inc.</name>
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        <lei>N/A</lei>
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        <lei>N/A</lei>
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        <lei>N/A</lei>
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        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <issuerCat>CORP</issuerCat>
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        <name>DRS Holdings III, Inc.</name>
        <lei>N/A</lei>
        <title>DRS Holdings III, Inc.</title>
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        <name>EVDR Purchaser, Inc.</name>
        <lei>N/A</lei>
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        <name>Businessolver.com, Inc.</name>
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        <title>Businessolver.com, Inc.</title>
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        <title>Businessolver.com, Inc.</title>
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        <name>Chroma Color Corporation</name>
        <lei>N/A</lei>
        <title>Chroma Color Corporation</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Chroma Color Corporation</name>
        <lei>N/A</lei>
        <title>Chroma Color Corporation</title>
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          <other otherDesc="USER DEFINED" value="536924"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Clean Solutions Buyer, Inc.</name>
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        <name>Commercial Bakeries Corp.</name>
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        <name>DH United Holdings, LLC</name>
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        <name>Davidson Hotel Company LLC</name>
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        <lei>N/A</lei>
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        <name>Delphi Infrastructure Group LLC</name>
        <lei>N/A</lei>
        <title>Safety Infrastructure Services Intermediate LLC</title>
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          <other otherDesc="USER DEFINED" value="636123"/>
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        <name>Dermatology Intermediate Holdings III, Inc.</name>
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        <name>DH United Holdings, LLC</name>
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        <name>Revalize, Inc.</name>
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        <name>Rhino Intermediate Holding Company, LLC</name>
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        <name>RMS Energy Borrower LLC</name>
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        <name>Delphi Infrastructure Group LLC</name>
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        <name>Sagebrush Buyer, LLC</name>
        <lei>N/A</lei>
        <title>Sagebrush Buyer, LLC (Province)</title>
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        <name>360 Holdco, Inc.</name>
        <lei>N/A</lei>
        <title>360 Holdco, Inc. (360 Training)</title>
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        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.091634</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>360 Holdco, Inc.</name>
        <lei>N/A</lei>
        <title>360 Holdco, Inc. (360 Training)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="586482"/>
        </identifiers>
        <balance>1484796.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1484796.370000000000</valUSD>
        <pctVal>0.2482710047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.091634</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ascend Partner Services LLC</name>
        <lei>N/A</lei>
        <title>Ascend Partner Services LLC</title>
        <cusip>04350XAC9</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="609358"/>
        </identifiers>
        <balance>7193053.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7122560.820000000000</valUSD>
        <pctVal>1.1909547779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.0854351</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commercial Bakeries Corp.</name>
        <lei>N/A</lei>
        <title>Commercial Bakeries Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="560436"/>
        </identifiers>
        <balance>7282695.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7147236.430000000000</valUSD>
        <pctVal>1.1950807568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.097515</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commercial Bakeries Corp.</name>
        <lei>N/A</lei>
        <title>Commercial Bakeries Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="597560"/>
        </identifiers>
        <balance>874545.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>858278.510000000000</valUSD>
        <pctVal>0.1435117113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.0975</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bluebird PM Buyer, Inc.</name>
        <lei>N/A</lei>
        <title>Bluebird PM Buyer, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="635096"/>
        </identifiers>
        <balance>501923.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1320.770000000000</valUSD>
        <pctVal>0.0002208444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.08751500000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bluebird PM Buyer, Inc.</name>
        <lei>N/A</lei>
        <title>Bluebird PM Buyer, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="635093"/>
        </identifiers>
        <balance>3662366.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3672003.250000000000</valUSD>
        <pctVal>0.6139912211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.08751500000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bradford Soap International, Inc.</name>
        <lei>N/A</lei>
        <title>Bradford Soap International, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="665728"/>
        </identifiers>
        <balance>990402.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-4655.040000000000</valUSD>
        <pctVal>-0.0007783636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.08913399999999999</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bradford Soap International, Inc.</name>
        <lei>N/A</lei>
        <title>Bradford Soap International, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="665726"/>
        </identifiers>
        <balance>2971207.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2957241.460000000000</valUSD>
        <pctVal>0.4944767669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.08913399999999999</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bridges Consumer Healthcare Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Bridges Consumer Healthcare Intermediate LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="628596"/>
        </identifiers>
        <balance>1196473.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>938030.630000000000</valUSD>
        <pctVal>0.1568469668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.0944594</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bridges Consumer Healthcare Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Bridges Consumer Healthcare Intermediate LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="644004"/>
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        <balance>2099028.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-31905.230000000000</valUSD>
        <pctVal>-0.0053348349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.0944594</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bridges Consumer Healthcare Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Bridges Consumer Healthcare Intermediate LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="628594"/>
        </identifiers>
        <balance>2511711.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2473533.400000000000</valUSD>
        <pctVal>0.4135965274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.092515</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ERA Industries, LLC</name>
        <lei>N/A</lei>
        <title>ERA Industries, LLC (BTX Precision)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="632172"/>
        </identifiers>
        <balance>513109.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232193.630000000000</valUSD>
        <pctVal>0.0388248160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.0896138</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Valuation bring-down procedures not performed for intra-quarter months (in accordance with General Instruction G to Form N-PORT)." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-11-12</ncom:dateSigned>
      <ncom:nameOfApplicant>NC SLF INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Marissa Hassen</ncom:signature>
      <ncom:signerName>Marissa Hassen</ncom:signerName>
      <ncom:title>Chief Accounting Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
